Short Interest in General Motors (NYSE:GM) Increases By 44.0%

General Motors (NYSE:GM) (TSE:GMM.U) saw a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 25,120,000 shares, a growth of 44.0% from the June 30th total of 17,440,000 shares. Based on an average daily trading volume, of 15,660,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 1.9% of the shares of the stock are short sold.

In other news, EVP Julian G. Blissett bought 9,300 shares of the business’s stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $26.00 per share, with a total value of $241,800.00. Following the completion of the purchase, the executive vice president now directly owns 22,130 shares in the company, valued at $575,380. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

Several large investors have recently made changes to their positions in GM. Capital Research Global Investors lifted its stake in shares of General Motors by 159.3% in the 1st quarter. Capital Research Global Investors now owns 38,555,728 shares of the auto manufacturer’s stock valued at $801,188,000 after purchasing an additional 23,689,152 shares during the period. Capital World Investors raised its holdings in General Motors by 6.6% in the first quarter. Capital World Investors now owns 100,416,712 shares of the auto manufacturer’s stock worth $2,086,664,000 after purchasing an additional 6,189,518 shares in the last quarter. BlackRock Inc. lifted its position in General Motors by 4.8% during the first quarter. BlackRock Inc. now owns 104,047,751 shares of the auto manufacturer’s stock valued at $2,162,112,000 after buying an additional 4,719,148 shares during the period. Invesco Ltd. lifted its position in General Motors by 9.8% during the first quarter. Invesco Ltd. now owns 40,007,832 shares of the auto manufacturer’s stock valued at $831,361,000 after buying an additional 3,557,442 shares during the period. Finally, ACR Alpine Capital Research LLC boosted its holdings in shares of General Motors by 64.8% during the 1st quarter. ACR Alpine Capital Research LLC now owns 4,630,568 shares of the auto manufacturer’s stock valued at $96,223,000 after buying an additional 1,821,528 shares in the last quarter. 75.41% of the stock is owned by hedge funds and other institutional investors.

Shares of GM opened at $24.89 on Friday. The firm’s 50-day moving average price is $25.92 and its 200-day moving average price is $26.92. The firm has a market capitalization of $35.62 billion, a price-to-earnings ratio of 23.70, a PEG ratio of 1.78 and a beta of 1.40. The company has a current ratio of 1.12, a quick ratio of 0.95 and a debt-to-equity ratio of 2.00. General Motors has a 1-year low of $14.32 and a 1-year high of $41.90.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Wednesday, July 29th. The auto manufacturer reported ($0.50) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.72) by $1.22. The company had revenue of $16.80 billion during the quarter, compared to the consensus estimate of $16.93 billion. General Motors had a net margin of 1.46% and a return on equity of 6.27%. General Motors’s revenue was down 53.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 earnings per share. On average, research analysts forecast that General Motors will post 2.16 EPS for the current fiscal year.

Several research firms have recently commented on GM. Nomura Instinet decreased their price objective on General Motors from $36.00 to $23.00 and set a “neutral” rating on the stock in a report on Monday, May 11th. Nomura decreased their price target on General Motors from $36.00 to $23.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Cfra downgraded General Motors to a “sell” rating and set a $15.00 price objective for the company. in a research report on Tuesday, April 7th. JPMorgan Chase & Co. raised their target price on shares of General Motors from $29.00 to $33.00 and gave the stock an “overweight” rating in a report on Friday, June 19th. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and issued a $28.00 target price on shares of General Motors in a research note on Thursday, June 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $35.37.

General Motors Company Profile

General Motors Company designs, builds, and sells cars, trucks, crossovers, and automobile parts worldwide. The company operates through GM North America, GM International, GM Cruise, and GM Financial. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Holden, Baojun, Jiefang, and Wuling brand names.

Featured Story: Bar Chart

Receive News & Ratings for General Motors Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for General Motors and related companies with MarketBeat.com's FREE daily email newsletter.